The foodstuff sector is booming, with more than half of all the foodstuff sold in the UK last year, according to a report from the Royal Academy of Food and Drink (RAFED).
However, there is one industry which could be facing an increasing amount of competition.
FoodstuffsIndustryNews.com has learnt that a new type of foodstuff could soon be entering the market which is called Ambient Foodstuffs (AFCs).
These products are made up of ingredients which are often sourced from other countries such as Brazil, Chile, Malaysia, New Zealand and the Philippines.
According to industry insiders, the industry is expected to increase by more than 25% this year and in 2019 alone, it will grow to £6.4 billion.
These products, known as ‘fresh’ or ‘sustainable’, are meant to be made from locally grown, locally sourced, sustainable foodstuffed goods.
The latest report, by RAAFED, is the latest in a series of reports which reveal the industry to be growing and is expected increase by a further 26% in 2019.
The biggest foodstuffer brands currently are the multinationals Kraft, Nestlé, Mars, Coles and the Coca Cola Co, which has an annual turnover of £13 billion.
It is hoped that this growth will see the sector grow to more than £9 billion by 2020, a figure that is expected rise to £12 billion by 2022 and £16 billion by 2024.
The new generation of foodstokers could have an even greater impact on the industry, which will also see the industry become a significant player in the economy.RAAFED’s report says that the industry has experienced rapid growth, with growth of up to 35% in the past five years, and that there are now more than 5,000 foodstisers in the market.
However, the growth is expected continue to accelerate in 2019, with the industry forecast to reach more than 9,000, a jump of almost 35% from 2020.
FoodStuffIndustryInsider.com understands that there is no specific market for these products, as they are currently only available through the UK.
But it is believed that the foodstuff market is growing and will soon overtake foodservice.
FoodserviceInsider has contacted Kraft for comment.